DXC Technology (NYSE:DXC) Shares Gap Down – What’s Next?

Shares of DXC Technology Company. (NYSE:DXC) gapped down prior to trading on Tuesday . The stock had previously closed at $9.71, but opened at $9.17. DXC Technology shares last traded at $9.2860, with a volume of 222,471 shares changing hands.

Wall Street Analyst Weigh In

DXC has been the subject of several analyst reports. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. TD Cowen reduced their price target on DXC Technology from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 9th. BMO Capital Markets cut their price objective on shares of DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Morgan Stanley dropped their target price on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, DXC Technology currently has an average rating of “Reduce” and a consensus target price of $12.25.

DXC Technology Trading Up 1.6%

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 155.07 and a beta of 0.82. The company’s fifty day moving average is $9.21 and its two-hundred day moving average is $11.81.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Friday, May 8th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.17 billion. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. On average, research analysts anticipate that DXC Technology Company. will post 2.61 EPS for the current year.

Insider Buying and Selling

In related news, CEO Raul J. Fernandez purchased 28,051 shares of DXC Technology stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $8.90 per share, for a total transaction of $249,653.90. Following the completion of the transaction, the chief executive officer owned 844,052 shares in the company, valued at $7,512,062.80. The trade was a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXC Technology

Several hedge funds have recently modified their holdings of DXC. Versant Capital Management Inc boosted its position in DXC Technology by 47.4% during the second quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock worth $66,000 after purchasing an additional 2,404 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of DXC Technology by 13.3% during the 1st quarter. Glenmede Trust Co. NA now owns 880,260 shares of the company’s stock worth $11,065,000 after purchasing an additional 103,221 shares during the last quarter. Access Investment Management LLC purchased a new stake in DXC Technology during the 1st quarter worth approximately $6,256,000. Bank of America Corp DE raised its holdings in shares of DXC Technology by 41.1% during the first quarter. Bank of America Corp DE now owns 1,074,481 shares of the company’s stock valued at $13,506,000 after acquiring an additional 313,078 shares during the last quarter. Finally, Amundi raised its holdings in shares of DXC Technology by 79.4% during the first quarter. Amundi now owns 45,502 shares of the company’s stock valued at $572,000 after acquiring an additional 20,143 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.